- Juan Tacuri, a senior promoter in a global cryptocurrency Ponzi scheme called Forcount (later rebranded as Weltsys), was sentenced to 20 years in prison for defrauding thousands of victims across the globe.
- Tacuri actively targeted Spanish-speaking communities, promising guaranteed returns from cryptocurrency trading and mining but instead funneling victims’ funds to promoters.
- Tacuri was ordered to serve 20 years in prison, followed by one year of supervised release, forfeit over $36 million in ill-gotten gains, and pay restitution in the same amount.
Juan Tacuri, a senior promoter in a global cryptocurrency Ponzi scheme called Forcount, has been sentenced to 20 years in prison by a federal court in New York. The sentence marks the maximum statutory term for Tacuri’s involvement in the fraud operation, which later rebranded as Weltsys.
Details of the Ponzi Scheme
The Forcount scheme operated from at least 2018 until 2021, luring investors with promises of guaranteed profits and returns. Victims were encouraged to buy into Forcount’s investment products through presentations, community events, and expos.
Although investors were given access to online portals that purportedly showed accumulating profits, most were unable to withdraw their funds and eventually lost their entire investments. As complaints mounted, promoters offered new proprietary tokens called Mindexcoin, claiming they would become valuable when accepted for payments by companies. In reality, the tokens were worthless, leading to further financial losses for victims. By 2021, the scheme collapsed, payments ceased, and promoters stopped responding to investors’ inquiries.
Tacuri’s Involvement and Sentencing
Tacuri, age 46, actively targeted Spanish-speaking communities and played a key role in defrauding thousands of victims globally. He would present the schemes as a path to financial freedom, dressing in designer clothing and boasting of his wealth.
Tacuri was ordered to serve 20 years in prison, followed by one year of supervised release. He was also required to forfeit over $36 million in ill-gotten gains, including a Florida property purchased with victim funds, and pay restitution in the same amount.
Conclusion
In recent years, cryptocurrency Ponzi schemes have continued to evolve, taking advantage of emerging technologies and trends in the crypto space. Tacuri’s case serves as a reminder that fraud does not pay in the long run. As virtual asset investments become more mainstream, investors should be wary of promises of guaranteed, risk-free returns.
